Total's £300m drives sterling momentum

By Richard Metcalf
11 Nov 2014

French oil company Total priced a £300m six year bond on Tuesday, paying a small new issue premium, according to bankers. The deal follows a spate of recent deals in the currency from Walgreen, Ford and Intu Properties.

Barclays and RBC Capital Markets were the bookrunners on the deal, Total’s second public bond in sterling this year after a £275m five year floating rate note issued in June.

The bond was “fairly priced”, according to a banker away from the deal, although he admitted there were different ...

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